A skillful use of a combination of artificial intelligence and block chain might increase the efficiency, transparency and effectiveness of government.

There are many ways that blockchain and AI can reduce the cost of government while making it more responsive to citizens. Even some age old abuses might be corrected or eliminated by these cutting edge technologies.

The PBOC is in a rush to develop a digital currency because of China’s experience with bitcoin. China is the world’s largest market for bitcoin because the cryptocurrency allows the country’s residents to easily bypass its’ rigid currency controls.

The central bankers apparently hope that issuing their own cryptocurrency will give them some control over the situation. Some control is better than no control which is what they have right now.